Fresenius Management SE, a Bad Homberg, Germany-based global healthcare company, is replacing its top dog Ulf Mark Schneider with Stephan Sturm on July 1.
Mr. Schneider is leaving his post as CEO after 13 years to pursue another opportunity, according to a company announcement issued Sunday. Fresenius Management SE's board chairman Gerd Krick said in a statement that Mr. Schneider led the company "through a period of exciting and sustainable growth," including a twelve-fold increase in net income and a four-fold increase in group sales.
Fresenius Management SE is a global healthcare group divided into four independent segments, including Fresenius Medical Care, a dialysis company; Fresenius Helios, a German hospital operator; Fresenius Kabi, a drug, medical device and services company for chronically ill patients; and Fresenius Vamed, a company that plans, develops and manages healthcare facilities.
Mr. Sturm, who will assume the position of CEO on July 1, has been the company's CFO since 2005.
"We are delighted to appoint Stephan Sturm as our new CEO. The Supervisory Board could not have wished for a better qualified and experienced leader to succeed Ulf Mark Schneider in this role. Stephan Sturm has been a member of the Fresenius Management Board for more than 11 years. He has a highly successful track-record as the Group's CFO and has made major contributions towards executing our successful growth strategy," Mr. Krick said in the statement.
More articles on executive moves:
Harvard Medical School names Dr. Barbara McNeil acting dean
16 latest hospital, health system executive moves
Geisinger names chief strategy officer: 3 things to know